USD/JPY – 30M – BUYThe pair US Dollar/Japanese Yen (USD/JPY) moves from the descending trendline upwards
An ascending movement up to the next resistance level at 141.17000 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Up’ candlestick chart pattern is found. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 143.08300 |
| 2nd High | 142.71300 |
| Next High | 141.17000 |
| Current Price | 140.39800 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
141.17000 – 141.07200 – 142.71300 – 140.55300 – 140.46900 – 142.19700
Trading Signals: FOREX – USD – USD/JPY – JPY – Three Outside Up